Market Analysis
Since November 21st , the daily RSI has been below the 50 midline . Currently, observing the daily RSI, we see a potential for it to break through the 50 midline.
Key points:
Bullish signal: If the RSI successfully breaks through the 50 midline, this will be a worthwhile opportunity to go long .
Double resonance: At the current position, breaking through the 50 midline also inevitably means that the price will break through the daily-level descending moving average .
Trend reversal: Once a double breakout is achieved, it signifies a reversal in trading volume and a breakout in the trend . From a technical perspective, this is a highly valuable turning point.
In summary, this is a technical position that deserves close attention at present.
